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LiteFinance: Changes in #AMWL trading instrument due to reverse split of Amwell shares

LiteFinance: Changes in #AMWL trading instrument due to reverse split of Amwell shares

Broker LiteFinance has announced upcoming changes to the trading parameters of the #AMWL instrument in connection with the strategic consolidation of Amwell 1-to-20 shares.

The move, effective at the close of trading on July 10, 2024, aims to comply with New York Stock Exchange (NYSE) requirements by raising Amwell's share price above the minimum average closing price of $1.

The main effects of the reverse split are:

    - Proportional price increase: the #AMWL stock price will increase twenty-fold, reflecting the consolidation.
    - Reduced volume: open positions will be reduced twenty-fold in line with the consolidation ratio.
    - Adjusted Entry Price: the entry price for all open positions will be adjusted proportionally.
    - Order Removal: Stop Loss and Take Profit orders on open positions, as well as all pending orders (Buy Limit, Sell Limit, Buy Stop, Sell Stop, Buy Stop Limit and Sell Stop Limit) will be removed during the split.
    - Regular closes: Current open positions can be closed without restriction.

These updates will be implemented when the market opens on July 11, 2024. Traders are advised to factor these changes into their trading strategies and adjust their advisors accordingly.

It is critical for traders taking positions in #AMWL to understand these adjustments to avoid any potential confusion or unexpected results in their trading activities.

This reverse stock split is part of Amwell's compliance strategy to maintain its NYSE listing and potentially attract a broader investor base by improving the stock's price point.

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